General Question

Any bank that refunds atm fees daily instead of monthly?

Lots of US banks now offer ‘free’ atms, by refunding the fees of other banks’ atms at the end of each statement month. Are there any banks that refund these fees earlier than at the end of the month? Like at the end of the day or something like that?

2 Answers

I have two bank accounts that do so. One is Virtual Bank, a subsidiary of Lydian Private Bank based in Florida. The account I have, which they don’t offer anymore, refunds the first $6 in monthly ATM fees, as they don’t have any local branches. I don’t know if any of their current offerings have this feature, but my other bank refunds fees whenever you ask them to.

This account is with M&I (Marshall and Isley) Bank, they are local for me, though they don’t have nearly as many branches as other banks, and basically, if you bring in your ATM receipts to them, they refund your payouts on the spot, be it that day or a month later, whether you have 1 or 20. Plus, I really like this account because they pay me per transaction, so for example, I get a quarter a month for having online statements, and a quarter per deposit I make, plus a nickel for each check cashed and a small percentage of every debit card transaction. I have an average balance of like 30 or 40 bucks in there and still make 2 bucks a month in transaction payments.